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HMRC Personal Allowance could double for pensioners as thousands back campaign
Thousands petition for a tax code change to double the personal allowance for pensioners as the current freeze pushes many over the £12,570 tax-free limit, campaigners say.
- This past week, thousands signed petitions urging a higher HMRC personal allowance for pensioners, including nearly 200,000 on 'Stop the State Pension Being taxed' and over 24,000 for a doubled allowance, campaigners say.
- The Personal Allowance £12,570 has been frozen since 2021, pushing hundreds of thousands of older people with small private pensions into the tax system, and from 2027 the full new state pension will exceed the tax-free limit.
- Colette, widow aged 75, says her combined pensions pushed her about £1,000 over the threshold, and Silver Voices campaigns for a new tax code doubling the basic allowance.
- Minister Rachel Reeves told MPs `We are working on a solution as we speak...`, but details on raising the personal allowance remain unclear, campaigners say a proposal outcome would be a higher tax-exempt limit for pensioners.
- Campaigners argue the current approach is unfair and risks undermining retirement safety nets, saying taxing the basic state pension would undermine the whole principle of a retirement safety net.
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The Herald Scotland+25 Reposted by 25 other sources
HMRC Personal Allowance could double for pensioners as thousands back campaign
Thousands of people have signed petitions calling for a higher HMRC personal allowance for pensioners following an update from the Chancellor Rachel…
·Scotland, United Kingdom
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Total News Sources26
Leaning Left2Leaning Right0Center20Last UpdatedBias Distribution91% Center
Bias Distribution
- 91% of the sources are Center
91% Center
C 91%
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